SECURITIES AND EXCHANGE COMMISSION
                                
                     Washington, D.C.  20549
                                
                                
                           Form 10-QSB
                                
                                
           Quarterly Report under Section 13 or 15 (d)
             of the Securities Exchange Act of 1934
                                
                                
 For Quarter ended: March 31, 1998    Commission File Number: 0-19589
                                
                                
                                
                   ARGUSS HOLDINGS, INC.
                             
               (Exact name of Registrant as
                 specified in its Charter)
                                
            Delaware                     02-0413153
         (State of other              (I.R.S. Employer
         jurisdiction of           Identification Number)
        incorporation of
          organization)
                                
                                
    One Church Street, Suite 302,            20850
         Rockville, Maryland                (Zip Code)
        (Address of Principal                
          Executive Offices)                 
                                
                                
 Registrant's Telephone Number, including Area Code:      301-315-0027
                                
                                
Indicate  by check mark whether the registrant (1) has filed  all
reports  required  to  be  filed by  section  13  or  15  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.


 Yes: X           No:___



As of April 9,1998, there were 10,368,685 shares of Common Stock,
$ .01 par value per share, outstanding.



                                


                      ARGUSS HOLDINGS, INC.
                                
                                
                              INDEX
                                



     Part I - Financial Statements:

          Item 1 - Financial Statements


               Consolidated Balance Sheets - (Unaudited)
               March 31, 1998 and December 31, 1997                     3

               Consolidated Statements of Operations - (Unaudited)
               Three Months Ended March 31, 1998 and March 31, 1997     4

               Consolidated Statements of Cash Flows - (Unaudited)
               Three Months Ended March 31, 1998 and March 31, 1997     5

               Notes to Consolidated Financial Statements
               (Unaudited)                                              7


          Item 2 - Management's Discussion and Analysis of Financial
                   Condition and Results of Operations                 11

     Part II - Other Information

          Items 1 through 6                                            14

          Signatures                                                   15

          Exhibits                                                     16
                                
                                
                                
                      ARGUSS HOLDINGS, INC.
                                
                   CONSOLIDATED BALANCE SHEETS
                           (Unaudited)
                                

                                   March 31, 1998      December 31,1997

      Assets                                              
                                                          
Current assets:                                                  
     Cash                            $  2,340,000         $  1,215,000
     Restricted cash from customer 
     advances                           6,968,000                    -
     Accounts receivable trade,                                  
     including retainage of $1,844,000
     and $1,884,000,respectively       20,175,000           13,656,000
     Inventories                        5,058,000            4,618,000
     Other assets, current              1,941,000            1,898,000
                                      -----------           ----------

          Total current assets         36,482,000           21,387,000
                                      -----------           ---------- 
Property, plant and equipment, net     22,017,000           13,274,000
Goodwill net                           51,093,000           24,374,000
                                      -----------           ----------
                                    $ 109,592,000         $ 59,035,000
                                      ===========           ==========
      Liabilities and 
       Stockholders' Equity
                                                          
Current liabilities:                                      
                                                          
     Current portion long-term debt $   5,624,000         $ 1,632,000
     Short-term borrowings              5,869,000           4,294,000
     Accounts payable                   6,446,000           4,141,000
     Customer advances                  7,000,000                   -   
     Accrued expenses and other                                  
      liabilities                       4,644,000           4,212,000
                                      -----------          ----------
          Total current liabilities    29,583,000          14,279,000
                                      -----------          ----------

Long-term debt, excluding current            
  portion                              22,453,000           6,995,000
Deferred income taxes                   1,549,000             791,000
                                      -----------          ----------
          Total liabilities            53,585,000          22,065,000
                                      -----------          ----------
Stockholders' equity:                                     
     Common stock $.01 par value          104,000              85,000
     Additional paid-in capital        56,234,000          36,443,000
     Retained earnings deficit           (331,000)            442,000
                                      -----------          ----------
          Total stockholders'equity    56,007,000          36,970,000
                                      -----------          ----------
                                    $ 109,592,000        $ 59,035,000
                                      ===========          ==========
                                


The accompanying notes are an integral part of these financial statements.

                                
                      ARGUSS HOLDINGS, INC.
                                
              CONSOLIDATED STATEMENTS OF OPERATIONS
                           (Unaudited)
                                
                                              Three Months Ended
                                           March 31, 1998  March 31, 1997
                                                                
   Net sales                                                 
                                              $24,239,000   $8,976,000
   Cost of sales, excluding depreciation       18,791,000    6,514,000
                                               ----------    ---------
     Gross profit, excluding depreciation       5,448,000    2,462,000
                                                                
                                                                
   Selling, general and                                      
   administrative expenses                      3,455,000    1,506,000
   Depreciation                                 1,324,000      208,000
   Goodwill amortization                          654,000      196,000
   Engineering  and development                              
   expenses                                       246,000      260,000
                                               ----------    ---------
         Income (loss) from operations           (231,000)     292,000
                                               ----------    ---------
   Other income (expense):                                        
         Interest income and other                 56,000       24,000
         Interest expense                        (678,000)     (79,000)
                                               ----------    ---------
         Income <loss> before tax benefit        (853,000)     237,000
                                                                
   Income tax benefit                              80,000      381,000
                                               ----------    ---------
         Net <loss> income                      ($773,000)    $618,000
                                               ==========    =========
   Income <loss> per share - basic                  ($.07)        $.09
                                               ==========    =========
   Weighted average number of                            
     shares - basic                            10,361,000    7,271,000
                                               ==========    =========
   Income <loss> per share - diluted                ($.07)        $.08 
                                               ==========    =========    
   Weighted average number of 
     shares - diluted                          10,361,000    7,496,000
                                               ==========    ========= 
                                
The accompanying notes are an integral part of these financial statements.
                                
                      ARGUSS HOLDINGS, INC.
                                
              CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Unaudited)


                                               Three Months Ended
                                        March 31, 1998      March 31, 1997

Cash flows from operating activities:                    
     Net <loss> income                      ($773,000)         $618,000
Adjustments to reconcile net <loss> income
to net cash provided by used in operating                           
activities:
     Depreciation                           1,324,000           208,000
     Goodwill amortization                    654,000           196,000
     Non cash stock compensation              411,000                 - 
     Deferred income taxes                    100,000                 -
Changes in assets and liabilities:                           
     Accounts receivable                     (809,000)        1,174,000
     Inventories                             (440,000)         (476,000)
     Other current assets                     332,000          (627,000)
     Accounts payable                       1,260,000         1,160,000
     Accrued expenses and other                  
      liabilities                          (1,927,000)       (1,436,000)
                                           ----------        ----------
     Net cash provided by operating                 
      activities                              132,000           817,000
                                           ----------        ---------- 
                                                             
                                                             
Cash flows from investing activities:                        
     Net additions to property, plant       
      and equipment                        (4,674,000)        (506,000)
     Purchase of cable construction           
      companies                           (13,799,000)      (8,879,000)
                                          -----------       ----------
     Net cash used in investing       
      activities                          (18,473,000)      (9,385,000)
                                          -----------       ----------
                                                             
Cash flows from financing activities:                        
     Advance on TCI contracts               7,000,000                -
     Proceeds from lines of credit         22,425,000          339,000
     Repayments of financing debt          (3,309,000)        (846,000)
     Issuance of common stock                 318,000                -
                                          -----------       ----------
     Net cash provided by used in                    
      financing activities                 26,434,000         (507,000)
                                          -----------       ----------
     Net increase <decrease> in cash                  
      and restricted cash                   8,093,000       (9,075,000)
                                          -----------       ----------


    Cash at beginning of period             1,215,000       10,318,000
                                          -----------       ---------- 
    Cash and restricted cash at end                  
     of period                             $9,308,000       $1,243,000
                                          ===========       ==========

                      ARGUSS HOLDINGS, INC.
                          CONSOLIDATED
               STATEMENTS OF CASH FLOW (continued)
                          (Unaudited)
                                
                                             Three Months Ended
                                       March 31, 1998    March 31, 1997

Supplemental disclosures of cash paid for:
Interest                                 $   678,000         $79,000
Corporate income taxes                       198,000               -

Supplemental disclosure of
   investing and financing activities:

Fair value of assets acquired:

Accounts receivable                      $ 5,710,000      $4,404,000
Inventory                                          -         290,000
Other current assets                         375,000          74,000
Property and equipment                     5,398,000       3,676,000
                                          ----------       ---------
     Total non cash assets                11,483,000       8,444,000
                                          ----------       ---------
Liabilities                               (3,620,000)     (4,843,000)
Long term debt                            (1,888,000)     (2,111,000)
                                          ----------      ----------
Net non cash assets acquired               5,975,000       1,490,000

Cash acquired                              1,725,000          15,000
                                          ----------      ----------
Fair value of net assets acquired          7,700,000       1,505,000

Excess of costs over fair value
  of net assets acquired                  27,373,000      15,700,000
                                          ----------      ----------
Purchase price                           $35,073,000     $17,205,000
                                          ==========      ==========
Common stock issued                      $21,274,000     $ 8,642,000
Cash paid                                 15,524,000       8,578,000
Cash acquired                             (1,725,000)        (15,000)
                                          ----------      ----------
Purchase price                           $35,073,000     $17,205,000
                                          ==========      ==========



The accompanying notes are an integral part of these financial statements.

                      ARGUSS HOLDINGS, INC.
                                
                      NOTES TO CONSOLIDATED
                      FINANCIAL STATEMENTS
                           (Unaudited)
                                
                                
     A)   Organization

Prior to May 1997, Arguss Holdings, Inc. (the "Company") operated
as  a single entity under the name Conceptronic, Inc.  On May  9,
1997,  the  shareholders of the Company approved a plan providing
for the internal restructuring of the Company whereby the Company
became  a holding company and its operating assets were  held  by
wholly owned operating subsidiaries. Accordingly, on May 9, 1997,
the  Company  transferred substantially all of its  Conceptronic,
Inc.  operating assets to a newly formed, wholly owned subsidiary
of  the  Company,  and the Company changed its  name  to  "Arguss
Holdings,   Inc."   The   subsidiary  then   adopted   the   name
"Conceptronic,  Inc."   ("Conceptronic").   The  Company's  other
wholly  owned  operating  subsidiary  is  White  Mountain   Cable
Construction Corp. ("WMC").

The  Company  conducts its operations through  its  wholly  owned
subsidiaries,  WMC  and  Conceptronic.  WMC  is  engaged  in  the
construction,  reconstruction, maintenance, repair and  expansion
of  communications  systems, cable television and  data  systems,
including  providing  aerial  and  underground  construction  and
splicing  of  both  fiber  optic  and  coaxial  cable  to   major
communications customers.  WMC operates through its  divisions  -
White  Mountain,  Can-Am,  TCS, Rite  and  Schenck.  Conceptronic
manufactures   and  sells  highly  advanced,  computer-controlled
equipment used in the SMT circuit assembly industry.


     B)   Basis for Presentation

As  permitted  by  the  rules  of  the  Securities  and  Exchange
Commission (the "Commission") applicable to quarterly reports  on
Form  10-QSB,  these notes are condensed and do not  contain  all
disclosures required by generally accepted accounting principles.
Reference should be made to the financial statements and  related
notes included in the Company's Annual Report on Form 10-KSB  for
the  year  ended December 31, 1997, filed with the Commission  on
March 24, 1998.

In  the  opinion  of  the  Company,  the  accompanying  unaudited
financial statements contain all adjustments considered necessary
to  present  fairly the financial position of the Company  as  of
March  31, 1998 and the results of operations and cash flows  for
the periods presented. The Company prepares its interim financial
information using the same accounting principles as it  does  for
its annual financial statements.

The  Company's cable construction operations are expected to have
seasonally weaker results in the first and fourth quarters of the
year,  and  may produce stronger results in the second and  third
quarters.   This seasonality is primarily due to  the  effect  of
winter weather on outside plant activities in the northern  areas
served  by  WMC, as well as reduced daylight hours  and  customer
budgetary  constraints.   Certain  customers  tend  to   complete
budgeted  capital expenditures before the end of  the  year,  and
postpone  additional  expenditures until  the  subsequent  fiscal
period.

Research  and  development expenses incurred  and  expensed  were
$173,000 and $114,000, respectively, for the quarters ended March
31, 1998 and 1997.

In  June  1997, the Financial Accounting Standards Board ("FASB")
issued Statement No. 130, "Reporting Comprehensive Income".  This
Statement  establishes  standards for reporting  and  display  of
comprehensive  income  and  its components  (revenues,  expenses,
gains  and  losses)  in  a full set of general-purpose  financial
statements.   This  Statement requires  that  an  enterprise  (a)
classify items of other comprehensive income by their nature in a
financial  statement and (b) display the accumulated  balance  of
other comprehensive income separately from retained earnings  and
additional  paid in capital in the equity section of a  statement
of  financial  position.  The impact of  this  statement  on  the
Company's  financial  statements is not significant  because  the
company has no elements of comprehensive income at this time.

In  June  1997,  the FASB issued Statement No. 131,  "Disclosures
about   Segments  and  Relations  Information".   This  Statement
establishes   standards  for  the  way   that   public   business
enterprises report information about operating segments in annual
financial  statements and requires that those enterprises  report
selected   information  about  operating  segments   in   interim
financial  reports issued to shareholders.  It  also  establishes
standards for related disclosures.

Certain  amounts  in  the  1997 financial  statements  have  been
reclassified for comparability with the 1998 presentation.

     (C)  Earnings per Share

In  December  1997, retroactive to January 1, 1997,  the  Company
adopted  FASB  Statement  No. 128, "Earnings  Per  Share"  ("SFAS
128").   All  previously reported earnings per share  information
reported  as  of December 31, 1997 for comparative  purposes  has
been restated to reflect the impact of adopting SFAS 128.

  Under SFAS 128, basic earnings per common share are computed by
dividing  net  earnings available to common stockholders  by  the
weighted  average  number of common shares  outstanding  for  the
period.   Diluted earnings per common share reflect  the  maximum
dilution  that  would have resulted from the  exercise  of  stock
options  and  warrants.  Diluted earnings per  common  share  are
computed by dividing net income by the weighted average number of
common  shares and all dilutive securities.  During  the  quarter
ended March 31, 1998, the Company reported a loss.  Consequently,
the Company did not give the effect to stock options and warrants
in  the calculation of earnings per share as the result would  be
anti-dilutive.

              March 31, 1998                      March 31, 1997

               Earnings
               Loss                     Net       Earnings            Net
               per Shares   Share       Loss      per Share   Shares  Income

Basic           ($.07)   10,361,000  ($773,000)   $.09     7,271,000  $618,000
Effect of stock
 options and
 warrants           -            -           -     .01       225,000         -
              -------    ----------  ---------    ----     ---------  -------- 
Diluted          $.07    10,361,000  ($773,000)   $.08     7,496,000  $618,000
              =======    ==========  =========    ====     =========  ========

     D)   Accounts Receivable

The  retained  and unbilled accounts receivable  which  represent
amounts  withheld  by  contract  with  respect  to  WMC  accounts
receivable  was $1,844,000 and $502,000, respectively,  at  March
31,  1998  and 1997.  At March 31, 1998, the Company  expects  to
collect such retainage within one year.

     E)   Acquisitions

In  the  first  quarter  of  1998, the  Company  acquired  Can-Am
Construction,  Inc.  ("Can-Am") and Schenck Communications,  Inc.
("Schenck") which provide aerial and underground construction and
splicing services for both fiber optic and coaxial cable to major
telecommunications customers.

The purchase price was approximately $35 million and consisted of
1,809,000 shares of common stock of the Company and approximately
$15  million  in  cash.  The Company has classified  as  goodwill
approximately $27.4 million which represents the cost  in  excess
of  the fair value of the net assets acquired. Goodwill is  being
amortized  using the straight-line method over  20  years.    The
Schenck  purchase  agreement contains  provision  for  additional
payments  by the Company to Schenck shareholders to be  satisfied
by  the  issuance  of  the Company's common stock  and  cash,  if
certain  adjusted EBITDA thresholds are met for the  year  ending
December  31,  1998.   There  is  no  cap  for  such  provisional
payments.    One-half  of  the  additional  payment  to   Schenck
shareholders  will  be  satisfied by the issuance  of  shares  of
common  stock valued at $9.75 per share.  The second half of  the
payment  will  be in cash.  Any additional payments earned  under
the  terms  of the agreement will be recorded as an  increase  in
goodwill.


     F)   Enterprise Segment Information

The  Company's operations have been classified into two  business
segments for the quarter ended March 31, 1998, Communications and
Manufacturing.   Summary  financial  information  for   the   two
segments is as follows:



                Three Months Ended March 31, 1998
                                
                          Manufacturing  Communications       Total

Net sales                   $ 5,049,000   $19,190,000    $ 24,239,000
Cost of sales, excluding
   depreciation               3,440,000    15,351,000      18,791,000
                              ---------    ----------      ----------
Gross profit, exlcuding
   depreciation               1,609,000     3,839,000       5,448,000

Operating expenses,
   excluding depreciation     1,481,000     1,809,000       3,290,000
Goodwill amortization                 -       654,000         654,000
Non cash stock compensation           -       386,000         386,000
Depreciation expense             55,000     1,269,000       1,324,000
                              ---------     ---------      ----------

Interest and other income         4,000        46,000          50,000
Interest expense                (50,000)     (628,000)       (678,000)
                              ---------     ---------      ----------
Pretax income <loss>        $    27,000     ($861,000)      ($834,000)(1)
                              =========     =========      ==========

Capital expenditures        $    24,000   $ 4,704,000    $  4,728,000
                              =========     =========      ==========
Property, plant and 
 equipment, net             $ 1,345,000   $20,637,000    $ 21,982,000
                              =========    ==========      ==========

Total assets                $10,713,000   $97,533,000    $108,246,000
                             ==========    ==========     ===========
Total liabilities           $ 5,442,000   $46,787,000    $ 52,229,000(2)
                             ==========    ==========     ===========

(1)   Segment information does not reconcile to consolidated  net
      income before tax due to net unallocated corporate    expense of
      $19,000 which is the net of $6,000 in interest income and $25,000
      in stock option expense.

(2)   Excludes   inter-company  payables   of   $1,155,000   for
      manufacturing     and     $1,108,000     for     communications
      segments, respectively.

    G)       Long-Term Debt
    
On  January  2, 1998, the Company expanded its credit  facilities
with NationsBank, NA.  In connection with its acquisition of Can-
Am  and  Schenck,  the  Company  entered  into  an  aggregate  of
$15,016,000   in  new  acquisition  financing  facilities.    The
facilities  have a five-year amortization rate for  repayment  of
the  principal and include a balloon payment of approximately  $3
million of the acquisitions financing facilities in December 1999
with  the  remaining  principal amount of  the  facilities  being
repaid in equal monthly payments through December 31, 2002.   The
acquisition financing bears an interest rate of LIBOR,  plus  275
basis points.

In  addition, the Company expanded both its WMC revolving  credit
facility  from $4 million to $8 million, and equipment  financing
facility  from  $3,500,000 to $6 million under the same  interest
rates and covenants as the original lines of credit.

Further,  the  Company  consummated  a  term  loan  to  refinance
existing  equipment financing facilities at Can-Am  and  Schenck.
The  proceeds of this line were $2,400,000, are payable  over  48
months,  and  bear  an  interest rate at LIBOR,  plus  165  basis
points.

To  hedge  the  variable term loan interest  rate  risk  for  $10
million   in  notional  amount  of  the  acquisitions   financing
facilities  and  the  $2,400,000  in  notional  amount   of   the
refinancing term loan, the Company during the three months  ended
March  31, 1998 entered into various interest rate swaps pursuant
to  which  it  pays  fixed interest rates and  receives  variable
interest  rates  on the same notional amount.  During  the  three
months  ended March 31, 1998, the Company payment under  the  two
new  interest rate swaps aggregated $7,000.  The Company  had  no
receipts pursuant to the new interest rate swaps.

     H)   Litigation

On  December  13, 1991, the Company was served with  a  complaint
from  Vitronics Corporation ("Vitronics"), one of  the  Company's
competitors,  alleging patent infringement involving  its  reflow
soldering  ovens.  Vitronics sought an injunction, together  with
unspecified damages and costs.  The claim was filed in the United
States Federal District Court, District of New Hampshire.

In August 1995, the U.S. District Court issued a directed verdict
of  non-infringement  in  the Company's  favor  regarding  method
patent  #4,654,502.  Additionally, a decision was reached on  the
apparatus   patent  #4,833,301  by  a  jury  which   found   non-
infringement   on  all  past  and  current  Conceptronic   ovens.
Vitronics appealed the directed verdict on patent #4,654,502  and
the  United States Court of Appeals for the First Circuit ("Court
of  Appeals")  subsequently reversed and remanded  the  case  for
further  proceedings.   In October 1997,  the  Court  of  Appeals
administratively dismissed the case.

In  related  actions,  in April 1997, the  United  States  Patent
Office  ("PTO")  rejected  certain claims  of  Vitronics'  patent
#4,654,502  as being unpatentable. This decision by the  PTO,  if
upheld  on  appeal,  should terminate the  pending  lawsuit.   In
December  1996, the Company named Vitronics and its Chairman  and
CEO, James Manfield in a lawsuit, filed in Superior Court of  the
State of New Hampshire, citing malicious prosecution and abuse of
process.   The suit claims that Vitronics, when it initiated  the
1991  patent  infringement  case against  Conceptronic,  knew  or
should have known that the suit was without merit and that  claim
1  of U.S. Patent #4,883,301 was invalid, unenforceable and, as a
consequence,  the  patent was not infringed.  In  November  1997,
Dover  Industries  purchased Vitronics  and  succeeded  in  their
interest.

In   the  opinion  of  counsel,  the  ultimate  outcome  of  this
litigation  cannot  presently be determined.  Management  of  the
Company believes that Vitronics' claim is without merit and  that
the  Company will ultimately prevail.  Accordingly, no  provision
has  been made in the accompanying financial statements  for  any
potential liability that might result.
                                
                      ARGUSS HOLDINGS, INC.
                                
        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
        CONDITION AND RESULTS OF CONSOLIDATED OPERATIONS
                                
Results of Operations

Prior to May 1997, Arguss Holdings, Inc. (the "Company") operated
as  a single entity under the name Conceptronic, Inc.  On May  9,
1997,  the  shareholders of the Company approved a plan providing
for the internal restructuring of the Company whereby the Company
became  a holding company and its operating assets were  held  by
wholly owned operating subsidiaries. Accordingly, on May 9, 1997,
the  Company  transferred substantially all of its  Conceptronic,
Inc.  operating assets to a newly formed, wholly owned subsidiary
of  the  Company,  and the Company changed its  name  to  "Arguss
Holdings,   Inc."   The   subsidiary  then   adopted   the   name
"Conceptronic,  Inc."   ("Conceptronic").   The  Company's  other
wholly  owned  operating  subsidiary  is  White  Mountain   Cable
Construction Corp. ("WMC").  WMC operates through its divisions -
White Mountain, Can-Am, Rite, TCS and Schenck.

The  Company  conducts its operations through  its  wholly  owned
subsidiaries,  WMC  and  Conceptronic.  WMC  is  engaged  in  the
construction,  reconstruction, maintenance, repair and  expansion
of  communications  systems, cable television and  data  systems,
including  providing  aerial  and  underground  construction  and
splicing  of  both  fiber  optic  and  coaxial  cable  to   major
communications  customers. Conceptronic  manufactures  and  sells
highly  advanced, computer-controlled equipment used in  the  SMT
circuit assembly industry.

Three Months Ended March 31, 1998, Compared to Three Months Ended
March 31, 1997

The Company had a consolidated net loss of approximately $773,000
for the three months ended March 31, 1998, compared to net income
of  $618,000 for the three months ended March 31, 1997.  The  net
loss  is  primarily due to losses incurred by WMC.  The Company's
results  for the first quarter of 1998 are seasonally weaker  due
to  the  impact  of  severe winter weather on cable  construction
operations, primarily in the northeastern United States, and  due
to  the fact that WMC has been focusing its resources to commence
several significant, regional, multiple-year contracts with major
telecommunications  companies.  During  the  three  months  ended
March  31, 1998, WMC incurred transition costs to relocate  crews
and  equipment  and set up operations in several  new  locations.
Consolidated  net sales, as well as operating cost  efficiencies,
are  expected to be favorably impacted during the second  quarter
and  future  periods  as  these  contracts  reach  their  revenue
potential.  (See discussion of gross profit below.)

For  Conceptronic, the pre-tax income for the three months  ended
March  31,  1998 was $27,000, a $466,000 increase in income  from
the  same  period in 1997.  For WMC, pre-tax loss for  the  three
months ended March 31, 1998 was $861,000. Consolidated net income
for  the  quarter ended March 31, 1998 was significantly effected
by   goodwill  amortization  of  $654,000  and  non  cash   stock
compensation  of $411,000 due primarily to stock options  granted
below  market value to rank and file employees of newly  acquired
cable  construction companies.  Conceptronic's income performance
in  the  first  quarter of 1998 resulted from improved  equipment
sales.

Consolidated  net  sales  in  the  first  quarter  of  1998  were
approximately  $24,239,000, compared to approximately  $8,976,000
for  the  first quarter of 1997, an increase of nearly three-fold
due  primarily  to the acquisitions of Can-Am, Schenck,  TCS  and
Rite   (collectively   "Acquisitions"),   which   accounted   for
$12,401,000  of  the increase.  Operations of WMC  owned  for  at
least one year had a net sales increase of $1,495,000 or 28%  for
the  three  months  ended March 31, 1998.  For Conceptronic,  net
sales  for the three months ended March 31, 1998 were $5,049,000,
a 41%, or $1,467,000 increase over the comparable quarter in 1997
due  to  continued  strength in the SMT industry.   For  all  WMC
operations, net sales for the three months ended March  31,  1998
were $19,190,000.

Consolidated gross profit margin, excluding depreciation, was 23%
of  sales  in the first quarter of 1998 compared to 27%  for  the
first quarter of 1997.  The decrease in margins is attributed  to
WMC,  which  has  its seasonally lowest gross profit  performance
during the winter months and is in the start-up phase for several
large  regional  cable  construction contracts.   The  impact  of
adverse  weather conditions, in comparison to mild  1997  weather
conditions,  reduced WMC's gross profit margins  from  operations
owned for at least one full year by 6% or approximately $400,000.
With  respect  to TCS which is commencing significant,  multiple-
year  projects  in  Orlando, Florida and  Denver,  Colorado,  TCS
experienced   reduced  gross  profit  margins   from   historical
percentages by approximately $600,000.  The reduced margins  from
the  communications segment more than offset improved margins  at
Conceptronic, which increased from 29% in the three months  ended
March  31,  1997  to 32% in the comparable period  in  1998,  due
primarily to a favorable mix of margins on equipment sold.

Consolidated selling, general and administrative expenses for the
first quarter of 1998 were $3,455,000 compared to $1,506,000  for
the  first quarter of 1997.  The increase was largely due to  the
Acquisitions,  which  had  $1,593,000  in  selling,  general  and
administrative  expenses for the three  months  ended  March  31,
1998.

Depreciation expense increased to $1,324,000 for the three months
ended  March 31, 1998, compared to $208,000 for the three  months
ended  March 31, 1998 due primarily to WMC which made fixed asset
acquisitions  of  $6,967,000  during  calendar  year  1997,   and
$4,700,000  during the three months ended March  31,  1998.   The
capital  assets  are amortized over sixty months.   Further,  the
Acquisitions  had $836,000 in depreciation for the  three  months
ended  March  31,  1998.   Goodwill  amortization  increased   to
$654,000 from $196,000 in the comparable period one year ago  due
to the Acquisitions.

Net  interest expense for the three months ended March  31,  1998
was  $622,000, compared to $55,000 for the comparable  period  of
1997.  The WMC net interest expense increased to $582,000 for the
three  months ended March 31, 1998, compared to $46,000 in  1997,
due  to  the Acquisitions whose purchases were partially financed
through  bank financing and due to equipment financing lines  for
the  above  expanded  capital assets acquisition  program.   (See
discussion  of  expanded bank credit facilities in Liquidity  and
Capital Resources.)

Income  tax  benefit decreased to $80,000 for  the  three  months
ended  March 31, 1998 from $381,000 in the comparable period  one
year ago.  The quarter ended March 31, 1997 reflects the reversal
of  valuation allowances primarily recorded against deferred  tax
assets.

Liquidity and Capital Resources

In  the  first quarter of 1998, the Company acquired  Can-Am  and
Schenck  which  provide aerial and underground  construction  and
splicing services for both fiber optic and coaxial cable to major
telecommunications customers.

The purchase price was approximately $35 million and consisted of
1,809,000 shares of common stock of the Company and approximately
$15  million  in  cash.  The Company has classified  as  goodwill
approximately $27.4 million which represents the cost  in  excess
of  the  fair value of the net assets of WMC which was  accounted
for  as a purchase transaction. Goodwill is being amortized using
the  straight-line method over 20 years.   The  Schenck  purchase
agreement  contains  provision for  additional  payments  by  the
Company  to Schenck shareholders to be satisfied by the  issuance
of  the  Company's  common stock and cash,  if  certain  adjusted
EBITDA thresholds are met for the year ending December 31,  1998.
There  is no cap for such provisional payments.  One-half of  the
additional  payment to Schenck shareholders will be satisfied  by
the issuance of shares of common stock valued at $9.75 per share.
The  second  half of the payment will be in cash.  Any additional
payments earned under the terms of the agreement will be recorded
as an increase in goodwill.

Consolidated net cash provided by operations for the three months
ended  March 31, 1998 was $132,000, compared to net cash provided
by  operations  of $817,000 in the first quarter  of  1997.   The
change in cash flow from operations is due to net loss from cable
construction  operations and the greater volume  of  construction
activity  which caused an increase in WMC receivables.  Net  cash
used  for  investing activities in the first quarter of 1998  was
$26,434,000, compared to $9,385,000 in the first quarter of 1997.
The  increase  in investing activities is primarily  due  to  the
Acquisitions,  which required $13,799,000 in  cash,  as  well  as
significant  expenditures for capital assets for new construction
contracts which used $4,700,000 in cash.  Net cash flows provided
by  financing  activities was $27,774,000 for  the  three  months
ended  March  31,  1998,  compared to  net  cash  flows  used  by
financing  activities of $507,000 for the same  period  in  1997.
The increase in net cash flows from financing activities reflects
proceeds  of  approximately $7,000,000 from advances provided  by
Tele-Communications,  Inc  (TCI)  in  connection  with  turn  key
contracts in Dallas, Texas and Denver, Colorado.

The  Acquisitions  significantly impacted various  balance  sheet
accounts  during 1998.  Accounts receivable increased $6,519,000,
primarily  due to the consolidation of Acquisitions' receivables.
Accounts payable increased by $2,305,000 due to the Acquisitions.
Long-term debt increased $15,458,000 due primarily to the use  of
$15,016,000 in bank acquisition financing to acquire  Can-Am  and
Schenck.
    
On  January  2, 1998, the Company expanded its credit  facilities
with NationsBank, NA.  In connection with its acquisition of Can-
Am  and  Schenck,  the  Company  entered  into  an  aggregate  of
$15,016,000   in  new  acquisition  financing  facilities.    The
facilities  have a five-year amortization rate for  repayment  of
the  principal and include a balloon payment of approximately  $3
million  in December 1999 with the remaining principal amount  of
the  facilities  being repaid in equal monthly  payments  through
December  31, 2002.  The acquisition financing bears an  interest
rate of LIBOR, plus 275 basis points.

In  addition, the Company expanded both its WMC revolving  credit
facility  from $4 million to $8 million, and equipment  financing
facility  from  $3,500,000 to $6 million under the same  interest
rates and covenants as the original lines of credit.

Further,  the  Company  consummated  a  term  loan  to  refinance
existing  equipment financing facilities at Can-Am  and  Schenck.
The  proceeds of this line were $2,400,000, are payable  over  48
months,  and  bear  an  interest rate at LIBOR,  plus  165  basis
points.

To  hedge  the  variable term loan interest  rate  risk  for  $10
million   in  notional  amount  of  the  acquisitions   financing
facilities  and  the  $2,400,000  in  notional  amount   of   the
refinancing term loan, the Company during the three months  ended
March  31, 1998 entered into various interest rate swaps pursuant
to  which  it  pays  fixed interest rates and  receives  variable
interest  rates  on the same notional amount.  During  the  three
months  ended March 31, 1998, the Company payment under  the  two
new  interest rate swaps aggregated $7,000.  The Company  had  no
receipts pursuant to the interest rate swaps.

The  Company  had $9,500,000 in revolving lines  of  credit  with
commercial banks of which $5,869,000 was drawn down as  of  March
31,   1998  to  fund  increased  inventories,  capital  equipment
purchases and working capital.

The  Company  continues to actively pursue  acquisitions  in  the
telecommunications construction and other industries.  Subject to
due  diligence and other considerations, the Company's commercial
credit  facilities  for equipment financing, revolving  lines  of
credit and acquisition financing facilities may be expanded.   In
the  event  that one or more satisfactory acquisition  candidates
are  located, the Company may seek to expand its existing  credit
facilities or issue additional equity or subordinated debt.

The Company believes it has sufficient cash flow from operations,
cash  on hand and availability under its credit line to meet  its
liquidity needs.

The  Company's cable construction operations are expected to have
seasonally weaker results in the first and fourth quarters of the
year,  and  may produce stronger results in the second and  third
quarters.   This seasonality is primarily due to  the  effect  of
winter weather on outside plant activities in the northern  areas
served  by  WMC, as well as reduced daylight hours  and  customer
budgetary  constraints.   Certain  customers  tend  to   complete
budgeted  capital expenditures before the end of  the  year,  and
postpone  additional  expenditures until  the  subsequent  fiscal
period.

Year 2000 Date Conversion

The  Year  2000 problem is the result of computer programs  being
written  with  two digits, instead of four digits to  define  the
applicable  year.   The  Company's  management  has  initiated  a
company-wide  program to prepare the Company's  computer  systems
for  the  Year  2000.  A comprehensive review  of  the  Company's
computer systems and software has been conducted to identify  the
systems  and  software that could be affected by this  issue.   A
plan  to  resolve  this issue is currently  being  developed  and
implemented.    The   Company  presently   believes   that   with
modifications to existing systems and software, and converting to
new  systems  and  software as part of the  Company's  effort  to
streamline its operations, the Year 2000 problem as it applies to
the  Company's  own  systems  and  software  should  not  pose  a
significant  operational problem to the Company.   The  financial
impact  to the Company of systems' upgrades to become Year  2000-
compliant  is not believed to be significant.  The Company  plans
to  review  the impact of the Year 2000 problem on its  customers
and  suppliers.   There can be no guarantee that the  systems  of
other  companies  on  which the Company's systems  rely  will  be
converted  on  a  timely basis or that a failure  to  convert  by
another  company, or a conversion that is incompatible  with  the
Company's  systems, would not have a material adverse  effect  on
the Company.

Forward Looking Statements

Statements  made in the quarterly report that are not  historical
or  current facts are "forward-looking statements" made  pursuant
to   the   safe  harbor  provisions  of  the  Private  Securities
Litigation  Reform  Act of 1995.  Investors  are  cautioned  that
actual results may differ substantially from such forward-looking
statements.  Forward looking statements may be subject to certain
risks  and  uncertainties, including  -  but  not  limited  to  -
continued  acceptance of the Company's products and  services  in
the  marketplace,  uncertainties  surrounding  new  acquisitions,
floating rate debt, risks of the construction industry, including
weather  and  an inability to plan and schedule activity  levels,
doing  business  overseas and risks inherent in concentration  of
business  in certain customers.  All of these risks are  detailed
from  time  to time in the Company's filings with the  Securities
and  Exchange Commission.  Accordingly, the actual results of the
Company   could   differ  materially  from  such  forward-looking
statements.

                                
                      ARGUSS HOLDINGS, INC.
                                
                                
                             PART II
                                
                        Other Information
                                
Items 1,2, 3, 4 and 5:   Not Applicable.
     
Item 6:  Exhibits and Reports on form 8-K

     10(y) Second Amendment to Financing and Security Agreement,
     dated January 2, 1998, by and among Arguss Holdings, Inc.,
     White Mountain Cable Construction Corp., Conceptronic, Inc.
     and NationsBank, N.A.

     10(z) third Amendment to Financing and Security
     Agreement, dated May 11, 1998, by and among Arguss Holdings,
     Inc., White Mountain Cable Construction Corp., Conceptronic,
     Inc. and NationsBank, N.A.

(a)  11  Statement Regarding Computation of Per Share Earnings

     27    Financial  Data Schedule

(b)   Reports on Form 8-K

In a Report on Form 8-K, dated January 2, 1998, the Company
reported under Item 2, "Acquisition or Disposition of Assets",
the acquisition by the Company, through a wholly owned subsidiary
of Can-Am Construction, Inc., Schenck Communications, Inc. and
Rite Cable Construction, Inc., and included in such Report the
following financial statements:

     Financial statements of businesses acquired: Audited balance
     sheet of Can-Am as of July 31, 1997, and related statements
     of income, retained earnings and cash flow for the year then
     ended.
     
     Unaudited, separate company financial information of Can-Am
     as of September 30, 1997, and related statements of income
     and cash flow for the nine months then ended.
     
     Audited balance sheet of Schenck as of September 30, 1997
     and related statements of income, retained earnings and cash
     flow for the year then ended.
                                
                           SIGNATURES
                                
                                
Pursuant  to the requirements of the Securities Exchange  Act  of
1934, the registrant has duly caused this report to be signed  on
its behalf by the undersigned thereunto duly authorized.

                                   Arguss Holdings, Inc.



     May 11, 1998               By:  \\ Rainer H. Bosselmann
                                     Rainer H. Bosselmann
                                     Chief Executive Officer
                                   
                                   
                                   
     May 11, 1998               By:  \\ Arthur F. Trudel
                                     Arthur F. Trudel
                                     Principal Financial  Officer
                                     and   Principal   Accounting
                                     Officer